307 Ray City · Adel, GA 31620

$74,000

3 bd · 2.0 ba · 990 sqft · Manufactured · 206 Days on market

Built 2025 Good condition

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

REGULAR PRICE: $74,000 | OWN IT NOW: $69,000! Brand-New 3-Bedroom, 2-Bath Manufactured Home - Move-In Ready! Don't miss this limited-time opportunity to own a brand-new manufactured home at an unbeatable value. Perfect for first-time homebuyers, families, or anyone looking for affordable homeownership, this 3-bedroom, 2-bath home offers modern design, comfort, and functionality - all at a price that's often less than renting Enjoy the convenience of on-site parking and a move-in-ready home that requires no renovations or updates - just bring your belongings and settle in. Limited-Time "Own It Now" Price: $69,000 Home Features: ✔ 3 Bedrooms | 2 Full Bathrooms ✔ Open-Concept Kitchen & Spacious Living Area ✔ Private Primary Suite ✔ Generous Closet Space in All Bedrooms ✔ On-Site Parking ✔ Brand-New Manufactured Home Financing Available: Monthly Payment as low as $964.30 * * * (Includes estimated lot rent, taxes & insurance) Flexible financing options available for qualified buyers This is your chance to secure affordable homeownership in a growing community with low monthly payments and minimal upfront cost. Homes at this price point and condition do not last long - schedule your private tour today and take the first step toward owning your new home!

Key facts

• Built 2025
• Listed 205 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $74k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.4% in Adel — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#105 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, schools F, amenities F.
• Cook County (rural): math 29% / reading 27% proficiency, ranked #111 of 174 in GA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 55 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 47 units permitted in Cook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cook County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-1,781
• Equity at exit: $11,034

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $11,631
• Equity at exit: $6,398

Cash invested: $20,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 31620

• Home prices YoY: -15.1%
• Active inventory: 55
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,110/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $160

Break-even live

Break-even rent $647

Max offer price $74,000

Occupancy floor 76%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 S Gordon Ave Adel, GA	2.0	1.0	825	$850	$1.03	43d	1	1.13mi

Listing history 18 events

1. 2026-06-19
   days on market $74,000 Active 206 DOM
2. 2026-06-18
   days on market $74,000 Active 205 DOM
3. 2026-06-17
   days on market $74,000 Active 204 DOM
4. 2026-06-16
   days on market $74,000 Active 203 DOM
5. 2026-06-15
   days on market $74,000 Active 202 DOM
6. 2026-06-14
   days on market $74,000 Active 200 DOM
7. 2026-06-12
   days on market $74,000 Active 199 DOM
8. 2026-06-09
   days on market $74,000 Active 196 DOM
9. 2026-06-08
   days on market $74,000 Active 195 DOM
10. 2026-06-07
    days on market $74,000 Active 194 DOM
11. 2026-06-05
    days on market $74,000 Active 192 DOM
12. 2026-06-03
    days on market $74,000 Active 190 DOM
13. 2026-06-02
    days on market $74,000 Active 189 DOM
14. 2026-06-01
    days on market $74,000 Active 188 DOM
15. 2026-05-31
    days on market $74,000 Active 187 DOM
16. 2026-05-30
    days on market $74,000 Active 186 DOM
17. 2026-02-12
    price $74,000 1297-char remark

    Show marketing remark (1297 chars)

    REGULAR PRICE: $74,000 | OWN IT NOW: $69,000! Brand-New 3-Bedroom, 2-Bath Manufactured Home - Move-In Ready! Don't miss this limited-time opportunity to own a brand-new manufactured home at an unbeatable value. Perfect for first-time homebuyers, families, or anyone looking for affordable homeownership, this 3-bedroom, 2-bath home offers modern design, comfort, and functionality - all at a price that's often less than renting Enjoy the convenience of on-site parking and a move-in-ready home that requires no renovations or updates - just bring your belongings and settle in. Limited-Time "Own It Now" Price: $69,000 Home Features: ✔ 3 Bedrooms | 2 Full Bathrooms ✔ Open-Concept Kitchen & Spacious Living Area ✔ Private Primary Suite ✔ Generous Closet Space in All Bedrooms ✔ On-Site Parking ✔ Brand-New Manufactured Home Financing Available: Monthly Payment as low as $964.30 * * * (Includes estimated lot rent, taxes & insurance) Flexible financing options available for qualified buyers This is your chance to secure affordable homeownership in a growing community with low monthly payments and minimal upfront cost. Homes at this price point and condition do not last long - schedule your private tour today and take the first step toward owning your new home!

18. 2025-11-25
    listed $65,999 Active 1297-char remark

    Show marketing remark (1297 chars)

    REGULAR PRICE: $74,000 | OWN IT NOW: $69,000! Brand-New 3-Bedroom, 2-Bath Manufactured Home - Move-In Ready! Don't miss this limited-time opportunity to own a brand-new manufactured home at an unbeatable value. Perfect for first-time homebuyers, families, or anyone looking for affordable homeownership, this 3-bedroom, 2-bath home offers modern design, comfort, and functionality - all at a price that's often less than renting Enjoy the convenience of on-site parking and a move-in-ready home that requires no renovations or updates - just bring your belongings and settle in. Limited-Time "Own It Now" Price: $69,000 Home Features: ✔ 3 Bedrooms | 2 Full Bathrooms ✔ Open-Concept Kitchen & Spacious Living Area ✔ Private Primary Suite ✔ Generous Closet Space in All Bedrooms ✔ On-Site Parking ✔ Brand-New Manufactured Home Financing Available: Monthly Payment as low as $964.30 * * * (Includes estimated lot rent, taxes & insurance) Flexible financing options available for qualified buyers This is your chance to secure affordable homeownership in a growing community with low monthly payments and minimal upfront cost. Homes at this price point and condition do not last long - schedule your private tour today and take the first step toward owning your new home!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,200
• − Mortgage interest: −$4,145
• − Property taxes: −$1,110
• − Insurance: −$370
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$2,153
• Taxable income: $790
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $1,732/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Good 80/100 None rehab

This brand-new manufactured home is move-in ready with modern design and excellent condition. It offers a good return on investment with minimal updates needed to maximize its resale and rental value.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers or renters.
• Both Adding a smart home system — A smart home system can improve convenience and energy efficiency, making the home more attractive to buyers and renters.
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to a wider range of buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers or renters. ↑
• Both Adding a smart home system — A smart home system can improve convenience and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to a wider range of buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cook County
• NCES district ID: 1301470
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $35,135
• Composite: 23.14/100
• National rank: #7951
• State rank: #111 of 174 in GA

Livability — Adel

• Score: 69/100
• State rank: #105
• US rank: #8186

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment F Housing B+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Adel, GA
• City population: 11,199
• Population (ZIP): 11,199

Population outlook (Cook County) Hauer SSP2

• Today (2025): 16,984 people
• By 2030: 16,800 · -1.1%
• By 2040: 16,343 · -3.8%
• By 2050: 15,696 · -7.6%
• By 2075: 13,451 · -20.8%
• By 2100: 10,357 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 25% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Slovak 4% Serbian 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Cook

• 2024 margin: Solid R (+46.5) · D 26.6% · R 73.0%
• 2008→2024 swing: -17.5pp toward R · 2008: -28.9pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+40.4 2016: R+40.1 2012: R+31.4 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.58%
• Current HPI: 222.35
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+12.1% since first listed

2 events — show timeline

• 2026-02-12 Price Changed $74,000 Zillow
• 2025-11-25 Listed $65,999 Zillow